⑴ 求2012年至今的有关上市公司股权激励外文文献！！！！
我处禁止上传文件，相关PDF外文文献有，没那么多，不知是否满足近几年的要求，翻译没有，翻译得靠你自己，希望能满足你的需要，能帮到你，多多给点悬赏分吧，急用的话请多选赏点分吧，这样更多的知友才会及时帮到你，我找到也是很花时间的，如果需要请直接网络 私信 或者 Hi 中留言贴出你在 网络知道的问题链接地址 及 邮箱地址
⑵ 跪求关于上市公司股权激励的外文文献
两篇直接下载，自己选择吧。
Managerial ownership, incentive contracting, and the use of zero-cost collars and equity swaps by corporate insiders
]JC Bettis, JM Bizjak - Journal of Financial and , 2001
http://www.buec.udel.e/coughenj/Der_BizjakLemmon.pdf
Why do public firms go private in the UK? The impact of private equity investors, incentive realignment and undervaluation
L Renneboog, T Simons - Journal of Corporate Finance, 2007
http://www.ti（删除）lburgunive（此处）rsity.e/resear（中文）ch/institutes-and-research-groups/tilec/ev（下载）ents/seminars/renneboog.pdf
⑶ 关于<证券市场发展>的外文文献及中文翻译
正确认识经济发展与证券市场的辩证关系证券市场是社会生产力发展到一定历史阶段的产物，经济运行态势决定证券市场走向，证券市场作为国民经济的晴雨表适应并反映经济发展状况，同时通过其自身的能动性促进或者阻碍经济发展。证券市场是手段，经济发展是目的。
长期以来，理论界从不同角度就证券市场对经济发展的重要作用进行了积极的理论探讨与论证。我国证券市场十余年发展的历史实践更为我们提供了令人信服和难以辩驳的事实。截止目前，国内上市公司达1200余家，国内股市累计筹资总额超过8500亿元，这些资金通过广泛的渠道投向经济生活的各个领域；证券市场中并购重组等资本运作风起云涌、方兴未艾，对十年来国民经济的持续快速增长作出了巨大贡献，功不可没。更为重要的是，证券市场在转变思想观念、优化资源配制、转换经营机制、改善企业治理、改革国有企业、提高经济效率等方面的巨大推动作用，极大地解放和发展了我国的社会生产力，影响深远，无以替代。当然，由于受自身发展规律及其他因素的影响与制约，证券市场与经济发展并非完全同步的，在时间上可能提前或者滞后，有时候甚至出现背离（这种背离可能是新兴的、不成熟的市场所普遍面临的问题），也不否认证券市场可能存在的消极性与负面性及其所蕴藏的风险，但长期来看，证券市场与经济发展总体上是保持一致的，我们发展证券市场的主要目的就是充分利用其能动性与积极作用为经济建设服务。十六大报告提出全面建设小康社会的宏伟目标客观上要求国民经济保持持续、快速、健康的发展，这为证券市场长期向好，实现稳定与繁荣提供了前所未有的机遇和坚实的基础，同时也对证券市场促进经济发展提出了更高的要求。
正确认识实体经济与虚拟经济的关系实体经济是人类的生产、服务、流通和消费活动；虚拟经济是信用制度与货币资本化形成的金融经济中与实体经济没有直接联系的金融交易活动；而所谓的泡沫经济则是指一种或一系列资产的价格经过连续的上涨后远高于其实际价值的经济现象严重膨胀、恶化泛滥导致社会资产的账面价值不正常地偏离真实价值的社会现象。长期以来，总有人将证券市场等同于虚拟经济，将虚拟经济等同于泡沫经济，以偏概全、舍本逐末，混淆和曲解实体经济、虚拟经济、泡沫经济的概念及相互关系。这是一个理论误区，如不及时纠正将会造成人们认识上的混乱。十六大报告中提出要“正确处理虚拟经济与实体经济的关系”，是对辩证唯物主义“两点论”与“重点论”的继承和发展，言简意赅，恰逢其时，为我们正确理解二者之间的关系提供了新的理论依据，对我们消除疑虑和偏见，大力发展证券市场具有重要的指导意义。
首先，就实体经济与虚拟经济的关系而言，实体经济是基础，是本，虚拟经济是适应实体经济的需要产生和发展的，是流，没有实体经济的支撑，虚拟经济只能是无源之水，无本之木；既要发展实体经济，也要发展虚拟经济，但重点或者说落脚点是发展实体经济，虚拟经济必须服从和服务于实体经济的发展。
其次，要一分为二的看待证券市场的归属问题。一方面，一级市场是直接配置资源的场所，为各种生产和服务企业提供融资服务，属于实体经济的范畴；另一方面，二级市场上的证券交易，特别是某些用于价格发现和风险控制类的金融衍生产品，可能会归属于虚拟经济的范畴。也就是说，证券市场是实体经济与虚拟经济的有机结合体，不能将其简单地归类甚至等同于虚拟经济。
最后，仅从定义就显然可知，虚拟经济不等于泡沫经济，只有当虚拟经济严重偏离实体经济的价值时才可能导致泡沫经济，证券市场亦如是。股市泡沫的存在是很正常的，适度的泡沫有利于市场的健康发展，但我们也要清醒认识到股市泡沫所蕴藏的风险，尽量将泡沫控制在合理适度的范围之内，避免其过度积累破坏金融和经济的正常运行。
正确认识我国证券市场的特殊性与发展阶段我国证券市场的发展除具有证券市场的一般特征与规律外，更具有鲜明的独特性及相应的特殊功能，主要体现在两个方面。其一，它是第一个建立和发展于社会主义国家的证券市场，是一项前所未有的伟业，理所当然地承载着与社会主义政治、经济、社会制度相适应的历史使命，为社会主义服务。我国证券市场十多年来的最大贡献就在于推动了生产力的极大解放和发展，这与社会主义的根本任务——解放生产力、发展生产力——是完全吻合的。其二，它是在建立社会主义市场经济这一史无前例的伟大创举中，在中国由传统计划经济向现代市场经济、由落后生产力向日益发达的生产力转轨的过程中产生和发展起来的，必须为经济转轨、为国有企业改革和国有经济的战略性调整服务。因此，在尊重证券市场发展普遍规律的基础上，我国证券市场的发展更要符合国情，符合改革开放和现代化建设的需要。
至于发展阶段则应该放到国家经济发展的大背景下来考察。经济发展状况决定证券市场走向，任何国家证券市场的发展阶段都主要取决于本国经济的发达程度与综合实力，比如美国和日本，二战后相继成为世界头两号经济强国，相应造就了两大发达成熟的证券市场。我国目前正处在社会主义初级阶段，正在从不发达经济向日益发达的经济、由发展中国家向中等发达国家迈进。与此相适应，我国证券市场也应该处于其发展的初级阶段，从不发达市场向中等发达市场转轨的阶段。
正确认识和处理证券市场发展中出现的问题要正确认识和处理证券市场发展中出现的问题，必须坚持辩证唯物主义的联系观、发展观和全面观，反对形而上学的孤立观、静止观和片面观。
首先，证券市场发展中存在问题是必然的。市场发展是一个从低级到高级、从简单到复杂、从不成熟到成熟的前进性变化过程，其本质是前进性与曲折性的统一。也就是说，总的趋势是前进的、上升的，但会有曲折和反复，会碰到这样那样的问题和障碍。尤其是我国社会主义制度下的证券市场没有现成的理论和前人的经验可以借鉴，又是成立和发展于经济改革关键的转轨时期，新旧观念的冲突、新旧体制的磨擦必然会反映其中，其艰巨性与复杂性可想而知，出现问题在所难免。
其次，正确认识问题是解决问题的基础和前提。证券市场发展中出现的问题不是孤立静止的，而是处在不断的发展变化之中，不同的阶段表现出不同的特点，问题之间可能会相互交叉互有联系，与市场的其他方面也有着普遍而广泛的联系，同市场发展息息相关，处理好了利于市场发展，反之则会阻碍市场发展。因此，认识问题既要客观全面，把握和研究它的一切方面，一切联系，又要具体问题具体分析，找出主要问题和问题的主要方面，弄清问题的性质和来龙去脉，找准症结对症下药。
其三，解决问题要有新思路、新办法。既不能讳疾忌医，任其发展，也不可能停下来先解决问题再谋求发展，更不能病急乱投医。我国证券市场已经从一个摸索试验性的市场发展成为社会主义市场经济的重要组成部分，与经济发展休戚相关，与国家利益、投资者利益唇齿相依，成绩是主要的、有目共睹的。有问题就否定一切不是解决问题的正确态度和方式。最好的办法只能是发展，用发展的办法解决前进中的问题，在发展中有计划、有步骤地解决问题，因为发展本身就是一个在对立统一中不断克服困难，消除障碍，解决问题，自我扬弃与更新的过程，没有发展何论解决问题，这是我们解决问题的总体思路和原则。而具体到每个问题则应具体情况具体分析，不同的问题有不同的本质特征，同样的问题在不同的阶段也有不同的表现，不存在一个适用于所有问题的具体解决办法。
沉舟侧畔千帆过，病树前头万木春，发展是硬道理，发展是永恒的主题。只要坚持以“三个代表”重要思想为指导，以“推动资本市场的改革开放和稳定发展”的重要论断为目标，坚定信心，与时俱进，我们有充分的理由相信，我国证券市场的明天必定更加繁荣发达。
⑷ 急求！一篇关于股票价值投资或投资风险方面的外文文献翻译！要中英文对照的，中文3000字以上外文10000字符
追加多少？
⑸ 求有关上市公司融资偏好分析的参考文献，中文15篇外文5篇，请表明作者，书名（论文名），版本（刊物名
网络学术可以找到参考文献,输入关键词，在输入年份，就能找到相对应的参考文献。如果不知道参考文献格式要求，可以网络搜，参考文献自动生成器。直接按着填就出来了。
网络搜索参考文献自动生成器，按着里面填，点生成参考文献就出来了。
数据资料可以在网络文库、中国统计年鉴中找到。
参考文献标准格式
参考文献类型：专著［M］，论文集［C］，报纸文章［N］，期刊文章［J］，学位论文［D］，报告［R］，标准［S］，专利［P］，论文集中的析出文献［A］
电子文献类型：数据库［DB］，计算机［CP］，电子公告［EB］
电子文献的载体类型：互联网［OL］，光盘［CD］，磁带［MT］，磁盘［DK］
A：专著、论文集、学位论文、报告
［序号］主要责任者.文献题名［文献类型标识］.出版地：出版者，出版年.起止页码（可选）
［1］刘国钧，陈绍业.图书馆目录［M］.北京：高等教育出版社，1957.15-18.
B:期刊文章
［序号］主要责任者.文献题名［J］.刊名，年，卷（期）：起止页码
［1］何龄修.读南明史［J］.中国史研究，1998,(3):167-173.
［2］OU J P，SOONG T T，et al.Recent advance in research on applications of passive energy dissipation systems［J］.Earthquack Eng,1997,38(3):358-361.
C:论文集中的析出文献
［序号］析出文献主要责任者.析出文献题名［A］.原文献主要责任者（可选）.原文献题名［C］.出版地：出版者，出版年.起止页码
［7］钟文发.非线性规划在可燃毒物配置中的应用［A］.赵炜.运筹学的理论与应用——中国运筹学会第五届大会论文集［C］.西安：西安电子科技大学出版社，1996.468.
D：报纸文章
［序号］主要责任者.文献题名［N］.报纸名，出版日期（版次）
［8］谢希德.创造学习的新思路［N］.人民日报，1998-12-25（10）.
E：电子文献
[文献类型/载体类型标识]：[J/OL]网上期刊、[EB/OL]网上电子公告、
[M/CD]光盘图书、[DB/OL]网上数据库、[DB/MT]磁带数据库
［序号］主要责任者.电子文献题名［电子文献及载体类型标识］.电子文献的出版或获得地址，发表更新日期/引用日期
［12］王明亮.关于中国学术期刊标准化数据库系统工程的进展
［8］万锦.中国大学学报文摘（1983-1993）.英文版［DB/CD］.北京：中国大网络全书出版社，1996.
作者.题名[D].所在城市:保存单位,发布年份.
李琳.住院烧伤患者综合健康状况及其影响因素研究[D].福州:福建医科大学,2009.
其他的：
作者.题名[J].刊名,年,卷(期):起止页码.
沈平,彭湘粤,黎晓静,等.临床路径应用于婴幼儿呼吸道异物手术后的效果[J].中华护理杂志,2012,47(10):930-932.
作者.书名[M]. 版次.出版地: 出版者,出版年:起止页码.
胡雁.护理研究[M].第4版.北京:人民卫生出版社,2012:38.
作者.题名[N].报纸名,出版日期(版次).
丁文祥.数字革命与国际竞争[N].中国青年报,2000-11-20(15).
作者.题名[EB/OL].网址,发表日期/引用日期(任选).
世界卫生组织.关于患者安全的10个事实 [EB/OL].
其他： [R]、[P]、[A]、[C]、[Z]等。
⑹ 关于中小企业融资的外文文献近五年的 急急急，求大神帮忙 带中文翻译 跪求大神
外文文献有，但翻译没有，翻译得靠你自己了，如果需要可以回复即可，希望能满足你的需要，能帮到你，多多给点悬赏分吧，急用的话请多选赏点分吧，这样更多的知友才会及时帮到你，我找到也是很花时间的
⑺ 急求有关《家族企业股权结构及绩效分析》的外文文献，翻译过来2000字以上，翻译我可以自己来
我复制的 这个行么？
中国家族企业股权结构分析
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提要 改革开放以来，中国的民营经济如雨后春笋般迅速发展，如今民营经济几乎涉及到所有的行业，而在中国的民营企业中有90％是家族企业，股权结构是否合理是制约和推动企业发展的关键所在。本文对家族企业主要的股权结构类型加以分析和阐述，并提出了有关的合理建议。
何为家族企业，美国著名企业史学家钱德勒的家族定义是“企业创始人及其最亲密的合伙人一直掌有大部分股权。他们与经理人员维持紧密的私人关系，且保留高阶层管理的主要决策权，特别是在有关财务政策、资源分配和高层人员的选拔方面”。实际上，简而言之，家族企业包括两部分，一是家族拥有的企业，二是家族控制的企业。家族企业是一种遍布世界各地的企业组织形式，世界范围80％以上的企业归属与家族企业，其中不乏著名的大公司如沃尔玛、福特、三星、LG公司等。中国在改革开放之后，一大批家族企业如雨后春笋般迅速成长起来，1992年，邓小平南方讲话发表，家族企业进入了高速发展时期，家族力量得以空前膨胀，家族企业开始追求规模效应和行业的领导权，做大做强。然而，随着资产的急剧膨胀，企业中的利益分割矛盾也越来越大，产权问题开始浮出水面，同时产权重组、企业改制之风盛行。股权已成为家族企业的命脉所系，要认识家族企业必须认识家族企业的股权结构。
一、家族企业的股权结构类型和实例
1、家族成员共同投资兴办事业，在兴办之初或过程中明晰股权。刘氏四兄弟的希望集团就是这种类型。1982年刘氏四兄弟从饲料行业起步，逐步涉足食品、电子、金融、房地产、商贸等多个领域，目前已经成为中国最大的家族企业。1983年7月刘氏兄弟决定以投入情况来决定将来的分配，老三投入最多而占最多股份，老二其次，老大和老四并列第三，1992年以后希望进行了两次调整，由单一企业分为四个企业集团为主的企业群，老大投资创立大陆希望；老二以东北片区为基础成立东方希望；老三建立华西希望；老四以南方片区为基础建立南方希望。他们还共同拥有“两厂一所”，既新津饲料厂、希望食品有限公司和希望科学技术研究所，大家各占1/4的股份。至此，希望集团基本上完成了明晰产权的过程。这一举措解决了兄弟之间的在经营理念、投资方向等方面的分歧和差异，同时也消除了双重决策、交叉运作造成的困惑，促进了企业的进步与发展。
2、家族企业中某一人先独创企业，逐渐吸纳家族成员加入。如南存辉的正泰集团。在正泰的发展道路上，家族控制权和股权一直是南存辉关注的问题，1991年南存辉从妻兄黄素益手中融资15万美元，成立了中美合资温州正泰电器有限公司，在南氏家族中，有不少人在从事低压电器业，他们有一定的生产、管理能力与资本，但更重要的是，南存辉看中了家族在沟通、信用上的“人和”优势。南存辉从中招进9个家族成员入股，形成以家族成员为核心的企业管理层。这9人中有其弟南存飞、外甥朱信敏、妹夫吴炳池等。家族成员入股使企业资本扩大，也解决了资金人才匮乏的问题。
3、由于公司所在地政府的政策变化而导致股权结构的变化。如万向集团因改制而获得的股权。1969年鲁冠球接手了乡镇企业“宁围公社农机修配厂”，也就是万向集团的雏形，到了1988年，万向集团经过十几年的发展，资产规模已经达到了5亿多元，鲁冠球以1500万元向宁围镇政府买断了万向节厂股权，使镇政府淡出主管角色，按当时的文件精神，乡镇企业50％的产权归给乡镇政府集体所有，50％归企业职工集体。在此次股权改革之后万向集团有了更大的自主经营权，可以更加灵活地制定发展目标，从而获得了更多的活力，为此后飞速发展奠定了坚实的基础，现在万向集团已经成了综合性的多元化投资集团，2002年万向集团营业收入达118亿元。
4、家族企业为充分利用各种关系，主动纳入政府及其他势力的股份。如天通，浙江天通在1991年为了加快企业发展，主动让政府参股，同年8月，海宁市郭店镇政府成为天通的第一大股东，持有36.29％的股份，这种“红色身份”很快使企业顺利获得了“国家重点扶持高科技企业”的称号，企业所得税由33％改为15％，并且国产设备经批准可抵扣所得税。天通的潘氏父子虽然出让了一定的股权，但是却获得了更加宝贵的企业发展机会，2001年，浙江天通股份成功在上交所上市发行A股，成为国家第一家自然人控股的A股上市公司。与此类似的还有格兰仕、美的集团等，他们都曾经主动纳入当地政府的股份，以求更大的发展。
5、家族公司转变为上市公司。2001年6月8日，太太药业在上海证券交易所上市，此次太太药业共发行7000万股A股，太太药业总股本27108万股，5家发起人股东合计占74.18％的股权。而这5家发起人上市前本属同一个家族企业，第一大股东、持股48.96％的深圳百业源的终极股东就是太太药业的董事长朱保国，占90％的股份，其妻、副董事长刘广霞占10％；第二大股东、持股18.54％的香港鸿信的终极股东为朱保国之母刘苗，占99.9％；另外3家各占2.25％的并列大股东，或是朱保国、刘广霞开的“夫妻店”，或是朱保国之弟朱保安和刘广霞的叔嫂合资公司。股市令太太药业登上了一个前所未有的财富高峰，太太药业一次性筹措到17亿元人民币，而董事长朱保国的个人身价约53亿元，加上家族成员控制的财产市值上市当日共计达84亿元人民币。除了在A股市场上市的太太药业，同样是行业领跑者的家族企业帝贤集团也将目光聚焦在了股票上市上，所不同的是其目标是B股市场，2000年8月，经国家证监会发行审核委员会正式批准，帝贤上市发行1.5亿股B股股票，9月，帝贤B在深圳证券交易所挂牌交易。家族公司走上市道路，一方面拓宽了筹资渠道，使公司在短期募集到大量用于发展的资金，另一方面也使股权的转让更加方便灵活，这应该是未来家族企业发展的方向。
二、中国家族企业的发展趋势
目前中国家族企业的股权在家族成员内部的分配，是由主要创业者持有最大股份，并担任董事长，其他家族成员、一般是直系亲属持有其余股份。比如浙江广通、格兰仕、美的、帝贤、方太都是父子持有大股份。但是随着家族企业的发展，家族成员的股权将趋向分散化和外部化，这实际上是由客观要求所主宰的。比如将股权转移给经营者、员工将有助于改善家族企业的治理结构，提高雇员的工作积极性和对企业的忠诚度，另一方面当公司上市或再次发行股票集资时，家族成员拥有的股份也会被稀释。
中国的家族企业还处在快速成长的阶段，如何形成合理的股权结构，是每一个企业都应当考虑的关键大事，只有明晰了产权关系，构建起有效的治理结构，企业才能轻装上阵，更快发展，所以有必要借鉴成功企业的有关股权结构构造方面的成功经验并在实践中不断摸索总结。(□文/李新罡)
⑻ 急求一篇关于中小企业融资的英文文献，要有中文翻译
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The definition of lease financing
Finance leases (Financial Leasing) also known as the Equipment Leasing (Equipment Leasing), or modern leasing (Modern Leasing), and is essentially transfer ownership of the assets of all or most of the risks and rewards of the lease. The ultimate ownership of assets to be transferred, or may not transfer.
It refers to the specific content of the lessee to the lessor under the lease object and the specific requirements of the supplier selection, vendor financing to purchase rental property, and the use of leased to a lessee, the lessee to the lessor to pay instalments rent, the lease term lease ownership of objects belonging to the lessor of all, the tenant has the right to use the leased items. Term expired, and finished the lessee to pay rent under the lease contract financing to fulfil obligations in full, leasing objects that vesting ownership of all the lessee. Despite the finance lease transactions, the lessors have the identity of the purchase of equipment, but the substantive content of the purchase of equipment suppliers such as the choice of the specific requirements of the equipment, the conditions of the purchase contract negotiations by the lessee enjoy and exercise, lessee leasing object is essentially the purchaser. , Is a finance lease extension of loans and trade and technology updates in the new integrated financial instry. Because of its extension of loans and combination of features, there is a problem in leasing companies can recycling, treatment of leasing, and so the financing for the enterprise credit and secured the main requirement, it is very suitable for SME financing. In addition, the leasing of sheet financing, not reflected in the financial statements of the enterprise liability, does not affect the credit status of enterprises. This multi-channel financing needs of SMEs in terms of it is very beneficial.
Leasing and financing lease of a traditional nature of the difference is: traditional lease to the tenant leasing the use of objects of the time rent, and finance lease financing costs to the tenant occupying the time of rental. The market economy develops to a certain stage and the adaptation of a strong financing, in the 1950s in the United States have a new type of trading, as it adapted to the requirements of modern economic development, in the 60 to 70 the rapid development in the world, and today has become a business update equipment one of the main means of financing, known as the "sunrise instry." China in the early 1980s after the introction of this operational modalities for over 10 years has been the rapid development, compared with developed countries, the advantages of leasing is far from being played out, the market potential is huge.
[Edit] the main characteristics of the leasing
The main characteristics of the leasing is: the ownership of objects as leasing is the lessor in order to control the risk of the tenant rent reimbursement taken a form of ownership, at the end of the contract could eventually be transferred to the lessee, the lease purchase items from lease people choose, maintenance from the tenant responsible for the lessor to provide financial services only. Rent calculation principles are: to lease the lessor objects based on the purchase price, occupied by the lessee to the lessor of funds based on time, according to a mutually agreed rental rates. It is essentially dependent on the traditional leasing financial transactions, is a special kind of financial instruments.
[Edit] the type of lease financing
1. Simple financing lease
Financing lease is a simple, by the lessee choose to purchase the rental property, the lessor on the lease project through risk assessment after the rental lease to the lessee the use of objects. Throughout the lease period the lessee does not enjoy the right to use the title, and is responsible for repair and maintenance of leasing objects. The lessor's lease is good or bad thing without any liability, equipment depreciation in the tenant side.
2. Leveraged lease financing
Leveraged leasing practices similar to syndicated loans, is a specialized leasing to large-scale projects with the tax benefits of lease financing, mainly led by a leasing company as a trunk, and for the lease of a very large project financing. First set up a leasing company from the operation of the main institutions - a project-based fund management company set up projects to provide more than 20% of the total amount of funds, and the remaining part was the main source of funds banks and social absorb idle idle funds, the use of 100 percent enjoy low tax benefits "in the eight Bo" leverage for the leasing project large amount of funds. The remaining financing and leasing practices are basically the same, but because of the complexity of the contract covers a wide range and even greater. As can enjoy tax benefits, operating norms, comprehensive benefits, and recovery of rent safe, low-cost, and are generally used for aircraft, ships, communications equipment and large complete sets of equipment lease financing.
3. Commissioned by the Financial Leasing
Is a way to have the funds or equipment entrusted to non-bank financial institutions in the financing lease, the lessor is also the first client, the second is the trustee of the lessor at the same time. The lessor to accept the client's money or lease of the subject matter, according to the client's written by the client designated for the lessee of the leasing business. In the subject of the lease term lease of the property of the client, the lessor only charges, not to take risks. Such leasing commissioned a major characteristic is not to lease the right to operate the enterprise, "by the right" business. E-commerce is on the lease by lease rental as a business platform.
The second is the lessor or lessee commissioned by the lease purchase of a third person, the lessor under the contract to pay the purchase price, also known as commissioned by the lease purchase financing.
4. Project finance leasing
Lessee to project their own property and to ensure efficiency, and the lessor signed a finance lease contract, the lessor to the lessee of the property and other projects without recourse to the proceeds, we can only rent charged to the project's cash flow and profitability to determine. The seller (that is leasing goods manufacturers) through their holding leasing companies to promote their procts in this way, and expand market share. Communications equipment, medical equipment, transportation equipment, or even the right to operate highway can be used this way. Others, including the return of leasing, also known as sale and leaseback financing leasing; financing to leasing, also known as the financing to leasing.
[Edit] the risk of lease financing
Finance leases from the risk of many uncertain factors, is multifaceted and interrelated, in the full understanding of the operational activities of the characteristics of various risks can be comprehensive, scientific analysis of risks to formulate corresponding measures. The risk of financing leasing main categories as follows:
(1) proct market risks. In the market environment, regardless of the financing lease, loan or investment, as long as the funds used to purchase equipment or to carry out technological transformation, first of all, should consider leasing equipment procts market risks, which need to know to sell the procts, market share rate and occupancy, proct trends in the development of the market, the consumption structure and the mentality of the consumers and consumption capacity. If these factors are not fully understand, the survey are not careful, and may increase the market risk.
(2) financial risks. For the leasing of a financial nature, financial risks throughout the entire business activities. The lessor, the biggest risk is that the lessee is also rent capacity, it has a direct impact on the operation of leasing companies and survival, therefore, the risk of also rent from the project began, it should be cause for concern.
Currency also have risks, especially international payments, methods of payment, payment date, time, the remittance channels and means of payment options improperly, will increase the risk.
(3) Trade risk. For the leasing of a trade properties, the risks of trade negotiations to orders from the acceptance testing there is a risk. The merchandise trade in the modern development of a relatively complete, the community is also supporting the establishment of corresponding institutions and preventive measures, such as a letter of credit, transport insurance, commodity inspection, commercial arbitration and the risk of credit counseling have taken precautions and remedial measures, but because people's awareness and understanding of the risks of different degrees, and some means of a commercial nature, coupled with the inexperience of the management of enterprises and other factors, all of these instruments have not been used, making trade risk still exists.
(4) technical risks. One of the benefits of lease financing before other enterprises is the introction of advanced technology and equipment. In the actual course of the operation, or advanced technology, advanced technology is mature, mature technology for the legal rights and interests of others, is an important risk a technical reasons. Serious, e to technical problems so that equipment in a state of paralysis. Other risks include the economic environment, force majeure, and so on.
[Edit] the accounting treatment of lease financing
[Edit], the tenant on the accounting treatment of lease financing
1, the start of the lease accounting treatment
At the start of the lease, the tenant will usually be the start of the lease rental assets in the original book value of the minimum lease payments and the present value of the lower of the two leased assets as recorded value of the minimum lease payments as a long-term payables recorded value, and the difference between the two records is not recognised financing costs. However, if the assets of the leasing assets of the enterprise small proportion of the total, the tenant may be the start of the lease in the minimum lease payment records of assets and long-term rent payments. This time, the "proportional" not usually refers to fixed assets financed by leasing the lessee total assets total less than 30% (including 30%). Under such circumstances, rent for the financing of long-term assets and the determination of the amount e, the tenant may, at its option, which can be used minimum lease payments, and can also be used leasing assets in the original book value of the minimum lease payments and the present value of the two in the lower. Then what "leasing the original book value of assets" refers to the start of the lease rental, as reflected in the accounts, the book value of the leased asset.
Lessee in the calculation of the minimum lease payments at the current value, if the lessor that the interest rate implicit in the lease, the lessor should be used as the interest rate implicit in the discount rate, otherwise, shall be stipulated in the lease contract interest rate as the discount rate . If the lessor's interest rate implicit in the lease and rental rates stipulated in the contract are not available, it should be used over the same period interest rates on bank loans as the discount rate. Which is implicit in the lease rates, in the inception of the lease, the minimum lease payments and the present value of the unsecured portion of the resial value of the current value of assets and equivalent to the original book value of the discount rate.
2, the initial direct costs of the accounting treatment
Initial direct costs refer to the lease negotiations and the signing of the lease agreement occurred in the course of the lease can be directly attributable to the cost of the project. Lessee in the initial direct costs usually have stamp ty, commission, attorney fees, travel expenses, such as the costs of negotiations. Lessee in the initial direct costs should be recognised as an expense in the current period. Accounts for its handling: debit "management fees" and other subjects, credited to "bank" and other subjects.
3, no finance charge assessed
In the finance lease, the lessee to the lessor to pay the rent, include the repayment of principal and interest in two parts. Lessee to pay rent, on the one hand to rece long-term payables, on the other hand, while not confirmed by the leasing costs for a certain method to confirm the current financing costs, the first rent (that is, initially matching each rental payment) Under the circumstances, the lease term is the first phase of rent paid no interest, should only rece the long-term payments, not to confirm the current financing costs.
Not sharing in the finance costs, the lessee should be used to calculate certain way. According to the guidelines, the lessee can be used in real interest rates, the straight-line method can also be used and the number of years of combined law. In using the effective interest method, in accordance with the inception of the lease is a lease assets and liabilities are recorded based on the value of different financing costs assessment rate options are also different. No finance charge assessed specific divided into the following types:
(1), leasing assets and liabilities to a minimum lease payments accounted for the present value of value to the investor and the interest rate implicit in the lease for the discount rate. Under such circumstances, investors should be the interest rate implicit in the lease for the assessment rate.
(2), leasing assets and liabilities to a minimum lease payments for the present value of recorded value, and to lease contract provides for the interest rate as the discount rate. In such circumstances, should be stipulated in the lease contract as the rate of assessment rates.
(3), leasing assets and liabilities to the original book value of the leased asset accounted for the value of the lessee does not exist resial value guarantees and preferential purchase right to choose. In such circumstances, should be re-calculation of the cost-sharing rate financing. Financing cost-sharing rate refers to the inception of the lease, the minimum lease payments equal to the present value of lease assets in the original book value of the discount rate. In the lessee or related to the leased asset resial value of the third-party security situation, and the similar, the end of the lease, not recognised all the financing costs should be shared End, and lease liabilities should also be reced to zero.
(4), leasing assets and liabilities to the original book value of the leased asset accounted for the value of the lessee does not exist guaranteed resial value, but there is preferential option to purchase. In such circumstances, should be re-calculation of the cost-sharing rate financing. At the end of the lease, not recognised all the financing costs should be shared End, and lease liabilities should also be reced to zero.
(5), leasing assets and liabilities to the original book value of the leased asset value accounted for, and the existence of the lessee guaranteed resial value.
Under such circumstances, the cost-sharing should be re-financing rate. Related to the lessee or third parties on the resial value of leased assets as security has been provided or not at the end of the lease renewal and to pay a penalty of circumstances, the end of the lease, not recognised all the financing costs should be shared End, and lease liabilities should also be reced to the guaranteed resial value, or to be paid by the breach.
Lessee shall pay each of the rent shall be the amount of rent paid, debit "long-term payables - to finance leases," subjects, credited to "bank" subjects, if payment of rent, which includes compliance costs, At the same time debit should be "manufacturing costs", "management fees" and other subjects. At the same time should be recognized in accordance with the current amount of the finance charge, debit "financial costs" subjects, credited the "no finance charge" subjects.
4, the leased asset depreciation Provision
Tenants should finance the lessee Provision for depreciation of fixed assets, should address two main issues:
(1), depreciation policy
Provision for asset depreciation, lease, the tenant should be its own assets Provision line depreciation method. If the lessee or third parties relating to the leased asset security has been provided, should be credited for the amount of depreciation on fixed assets, and the inception of the lease accounting resial value after decting the value of the balance. If the lessee or third parties relating to the leased asset resial value of the security has been provided, the total amount of depreciation should be credited for the start of the lease value of fixed assets recorded.
(2), the depreciation period
Identify the leased asset depreciation period, should be in accordance with the lease contract. If reasonable certainty that the lessee at the end of the lessee will obtain ownership of the leased asset, the lessee can be identified with all of the assets of the remaining useful life, and should therefore be the start of the lease to lease the remaining useful life of assets as depreciation period; If you can not reasonably determine whether the lease to the lessee at the end of the lease ownership of the assets to be made to the lease period and the remaining useful life of the leased asset in the shorter of the two as the depreciation period.
5, the accounting treatment of compliance costs
Many types of compliance costs, rent for the financing of fixed assets improved expenditure, technical advice and service charges, fees should be increased staff training credited to the extension of sharing costs, debit "long-term prepaid expenses," and "accrued expenses" , "manufacturing costs", "management fees" and other subjects, the fixed assets regular maintenance, insurance, etc. can be directly charged to expense in the current period, debit "manufacturing costs," and "operating expenses" and other subjects, credited to "bank deposits, "wait until the subjects.
6, or the accounting treatment of rent
Since the rent or the amount of uncertainty, unable to adopt a rational approach to its system for sharing, in the actual event, debit "manufacturing costs," and "operating expenses" and other subjects, credited to "bank" and other subjects.
7, at the end of the lease accounting treatment
At the end of lease, the tenant on the lease is usually the disposition of the assets of three circumstances:
(1), the return of the leased asset. Debit "long-term payables - to finance leases," and "accumulated depreciation" subjects, credited "fixed assets - fixed assets financed by leasing all" subjects.
(2), renewable lease concession assets. If the lessee to exercise the right to choose renewable concession, the lease shall be deemed to have been made the presence of the corresponding accounting treatment. If no expiry of renewal, to the lessor under the lease contract to pay a penalty, debit "operating expenses" subjects, credited to "bank" and other subjects.
(3), stay purchase the leased asset. In the lessee enjoy preferential purchase right to choose, purchase price paid, debit "long-term payables - to finance lease," credited "bank" and other subjects at the same time, will be fixed assets from "all fixed assets financed by leasing" Details Details of the other subjects into subjects.
字数太多，翻译另答~~~~~~
⑼ 急急急！！！！！！跪求有关中小企业融资问题的外文文献翻译 要求有作者和文章来源 不少于25000字节。
外文文献翻译成中文1000字左右）： 【主要阅读文献不少于5篇，译文后附注文献信息，包括：作者、书名（或论文题目）、出 版 社（或刊物名称）、出版时间（或刊号）、页码。提供所译外文资料附件（印刷类含封面、封底、目录、翻译部分的复印件等，网站类的请附网址及原文】 中小企业融资的创新 中小企业融资的文件 尽管政府、银行和各金融机构采取了一系列的措施，中小企业仍面临着一些挑战，这是具有普遍性的。这些问题涉及到抵押问题，贷款难，拖延应收款，技术过时，营销道路不畅等。印度为了解决上述的问题，采取了一些新的融资工具并创建了新的融资体制。这些措施包括： 1. 小型工业的信用保证基金信托 印度政府与印度小企业发展银行，已成立了一个小型工业信用保证基金信托（ CGTSI ）实施保障计划。主体信托拟加强从目前的7亿到25亿美元。其主要目的是促进信用较低的小型企业的融资，鼓励银行向值得贷款的企业免除抵押方式的贷款。在过去三年间，有资格的小型工业的贷款约2.5万被纳入该计划之中且CGTSI担保贷款的信用机构的会员迄今已扩大到约18,000名，涉及的贷款额约3亿美元。CGTSI考虑今年把他们的业务增至与去年相比的三倍。一些新的信用保证制度，如相互信贷保证计划等类似的计划在意大利和欧洲其他国家也正在制订中。 2. 风险分担机制 虽然CGTSI延伸保证支付的贷款高达2.5万美元，但有需要提供担保的银行贷款超过上述限额。根据世界银行牵头筹资问题和发展中小企业的计划，有可能为中小企业引入的风险分担机制正在研究中。主理银行和独立机构之间将按同样的比例共同承担银行向中小企业贷款的风险。当然，该机制将按成本获得收益。这一机制到时候，将减轻银行的信贷风险和高级中小企业的资金问题。 3. 创业资金 关于新的资金来源，许多国家正在考虑放宽有关风险资本投资的规则。在印度也已经采取了各种措施这个方向发展。印度小企业发展银行以及其他一些机构在该国已经带头采取了促进风险投资。根据资料显示该银行已设立了16个国家一级/区域一级的资金，为软件和IT业设立了约1亿美元的国家基金，近来还新建立了约1亿美元的中小企业发展基金。该基金将致力于医药，生物技术，轻工程，软件和其他领域。中小企业发展基金预期将增至5亿美元。 4. 小额贷款 实现潜在的小额贷款将促进经济的增长，印度小企业发展银行一直把重点放在增加有能力的部门来处理信贷和小额贷款的支出的增加。印度小企业发展银行基金会的小额贷款运作部门，在2004年里已累计批准了710万美元的财政援助。根据该方案，过去4年累计援助的受益人超过100万，其中大部分是妇女。对于未解决的投资方案，有可能从2004年3月底910万美元增至今年年底的2亿美元。 5. 中小企业基金 印度政府和印度小企业发展银行最重要的部门之间所采取的行动是建立100亿美元的中小企业基金，以期推动资金流向中小企业。印度小企业发展银行经过仔细考虑，设立基金和开展其业务从2004年4月开始生效。按照规定，基金援助提供给利率在银行PLR基准点200以下的中小企业。通过中小企业发展银行办公厅向中小 企业提供的直接援助正在扩大，主要的贷款机构也提供9.5%利率的再融资。SFCs可可获得7.5%~8%利率的再融资的收益。除了SFCs外，通过商业银行，中小企业基金提供的援助用于路由。该基金的流动除了提升对中小企业的援助，还解决了跨部门的贷款费用问题。 6. 为中小企业设立一个专门的信用评级机构 为了解决信贷需求方面的问题，主动采取行动以支持机制的信息共享和信用评级。为了加强信贷信息和便于银行进行信贷决策，印度小企业发展银行已决定推出一个专门为中小企业的信用评级协会与公共部门银行。银行可以选择与公共部门的银行和信贷评级机构交流信息，本年度该机构就有可能开展业务。 7. 资产证券化 为了扩大中小企业的援助范围，资产证券化进程提供由发起人和channelise资金的载体购买中小企业的投资组合的机会。这样的组合可以被购买方保留，也可以根据资本市场的变动被出售给投资者。印度小企业发展银行最近已获准由印度政府开展的业务，进行资产证券化。
⑽ 上市公司股利政策的英文文献 要中英文对照的
影响上市公司股利政策的因素
1、法律法规限制。
我国的法律法规对公司股利政策的影响有如下三种情况：
第一，《公司法》规定。《公司法》第130条规定股份的发行必须同股同权，同股同利。第177条规定了股利分配的顺序，即公司分配当年税后利润时，应当先提取法定公积金、法定公益金（提取法定公积金和法定公益金之前应当先利用当年利润弥补亏损），然后才可按股东持有的股份比例分配。第179条规定股份有限公司经股东大会决议将法定公积金转为资本时，所留存的该项公积金不得少于注册资本的百分之二十五。
第二，《个人所得税法》的规定。按照《个人所得税法》和国家税务总局《关于征收个人所得税若干问题的通知》，个人拥有的股权取得的股息、红利和股票股利应征收20%的所得税。
第三，《关于规范上市公司若干问题的通知》的规定。
（1）上市公司确实必须进行中期分红派息的，其分配方案必须在中期财务报告经过具有从事证券业务资格的会计师事务所审计后制定；公布中期分配方案的日期不得先于上市公司中期报告的公布日期；中期分配方案经股东大会批准后，公司董事会应当在股东大会召开两个月内完成股利（或股份）的派发事项。
（2）制定公平的分配方案，不得向一部分股东派发现金股利，而向其他股东派发股票股利；
（3）上市公司制定配股方案同时制定分红方案的，不得以配股作为分红的先决条件。
（4）上市公司的送股方案必须将以利润送红股和以公积金转为股本明确区分，并在股东大会上分别作出决议，分项披露，不得将二者均表述为送红股。
2、国家宏观经济环境。
一国经济的发展具有周期性。当一国经济处在不同的发展周期时，对该国企业股利政策的制定也有不同的影响。相应地，我国上市公司在制定股利政策时同样受到宏观经济环境的影响。当前，在形式上表现为由前几年的大比例送配股，到近年来现金股利的逐年增加。
3、通货膨胀。
当发生通货膨胀时，折旧储备的资金往往不能满足重置资产的需要。公司为了维持其原有生产能力，需要从留存利润中予以补足，这时管理当局可能调整其股利政策，导致股利支付水平下降。
4、企业的融资环境。当客观上存在一个较为宽松的融资环境时，企业可以发放债务融资性的股利和权益融资性的股利，亦即公司借新债或发新股来为股利融资。一般说来，企业规模越大，实力越雄厚，其在资本市场融资的能力就越强，财务灵活性也越大，当然其支付股利的能力也就越强。对于许多小公司或新成立的公司而言，难以采取融资性的股利政策。
5、市场的成熟程度。
衡量市场的成熟程度，通常可划分为三种形式：弱式有效市场、半强式有效市场和强式有效市场。市场越有效，其成熟度也就越高。实证研究结果显示，在比较成熟的资本市场（半强式有效市场）中，现金股利是最重要的一种股利形式，股票股利则呈下降趋势。我国因尚系新兴的资本市场，和成熟的市场相比，在中国，股票股利仍属一种重要的股利形式。
6、企业所在的行业。
股利政策具有明显的行业特征。一般说来，成熟产业的股利支付率高于新兴产业，公用事业公司的股利支付率高于其他行业公司。经验证据表明，行业的平均股利支付率同该行业的投资机会呈负相关关系。
7、企业资产的流动性。
所谓资产的流动性是指企业资产转化为现金的难易程度。企业的现金流量与资产整体流动性越好，其支付现金股利的能力就强。而成长中的、盈利性较好的企业，如其大部分资金投在固定资产和永久性营运资金上，则他们通常不愿意支付现金股利而危及企业的安全。
8、企业的生命周期。
通常把企业的生命周期划分为成长阶段、发展阶段和成熟阶段。在不同的阶段，企业的股利政策会受到不同的影响。在成长阶段，企业亟需资金投入，一般来讲，股利支付率相对较低；在发展阶段，公司开始能以较大的股利支付比率把收益转移给股东；至成熟阶段，由于投入产出相对稳定，股利支付率和股票收益率都将几乎保持不变。
9、企业的投资机会。
股利政策在很大程度上受投资机会所左右。如果公司有较多的有利可图的投资机会，往往采用低股利、高留存利润的政策；反之，如果投资机会较少，就可能采用高股利政策。当然，在采用低股利政策时，公司管理层必须向股东充分披露以留存利润投资于盈利高的项目，以取得股东的信任和支持。
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1, limit laws and regulations.
China's laws and regulations of the company's dividend policy has the following three conditions:
First, the "Company Law" requirements. "Company Law" Article 130 provides that the issuance of shares to be shares with the same rights, with the shares with Lee. The provisions of section 177 of the order of the dividend distribution, that is, when the distribution of after-tax profit of the company should first extract the statutory fund, statutory public welfare fund (statutory provident fund and statutory extract before the first use of the Community Chest of the year to make up for loss of profits), and then only by shareholders holding Some pro-rata allocation of shares. Co., Ltd. article 179 of the statutory fund shareholders' general meeting resolution to capital, retained by the fund shall not be less than 25 percent of the registered capital.
Second, the "Personal Income Tax Act". In accordance with the "Personal Income Tax Law" and the State Administration of Taxation, "on a number of issues of personal income tax levy," which indivials have access to the equity dividend, dividends and stock dividends to 20% of the income tax levy.
Third, the "norms of listed companies on notice a number of issues" requirement.
(1) a listed company must conct an interim dividend does pay a dividend, the distribution must be in the interim financial report has been qualified to engage in securities business, drawn up after the accounting firm audit; announced the allocation of medium-term programs may not be before the date of the interim report of listed companies publication date; the medium-term shareholders' general meeting approved the allocation of the program, the Company's Board of Directors held a general meeting of shareholders should be completed within two months of the dividend (or shares) of the distribution of matter.
(2) the development of equitable distribution of the program may not be distributed to shareholders as part of cash dividends, and other shareholders to distribute stock dividends;
(3) placement of shares of listed companies to develop programs to develop bonus programs at the same time, a placement of shares as a dividend shall not be a prerequisite.
(4) of listed companies will be profit bonus program must give Bonus shares and a clear distinction between provident fund to equity and the shareholders of the General Assembly resolution, respectively, the disclosure of sub-items may not be expressed as give Bonus shares both.
2, the national macro-economic environment.
The development of a country's economy has a cyclical character. When a country's economy at different development cycle, the country's corporate dividend policies have different effects. Correspondingly, China's listed companies in the formulation of dividend policy by the same macro-economic environment. At present, the performance of the grounds in the form of a few years ago to send a large proportion of the allotment, cash dividends in recent years has increased year by year.
3, inflation.
When inflation, the depreciation reserve funds are often unable to meet the needs of asset replacement. Companies in order to maintain its original capacity, need to be filled in retained earnings, when management may adjust its dividend policy, leading to rection in the level of dividend payments.
4, the financing environment for enterprises. When there is an objective of the financing for a more flexible environment, corporate debt financing can be paid the dividend and rights of the financing of the dividend, which is the company through new debt or new shares to finance the dividend. In general, larger enterprises, the more abundant strength, its ability to finance the capital market will be strong, and greater financial flexibility, of course, their ability to pay dividends stronger. For many smaller companies or new companies formed, it is difficult to take the financing of the dividend policy.
5, the maturity of the market.
Maturity of the market, usually can be divided into three forms: weak-form efficient market, semi-strong efficient markets and effective market strong. Market more effective, the higher its maturity. Empirical studies have shown that in more mature capital market (semi-strong efficient market), the cash dividend is the most important form of a dividend, stock dividends decreased. Department of China is still emerging from the capital markets, and mature markets, in China, the stock dividend is still an important form of dividends.
6, where the instry enterprises.
Dividend policy has obvious characteristics of the instry. In general, a mature instry, the rate of dividend payout is higher than in emerging instries, public utility companies to pay dividends is higher than companies in other instries. Empirical evidence shows that the instry average dividend payout rate of investment opportunities in the instry was a negative correlation between.
7, the mobility of corporate assets.
The so-called liquid assets means assets into cash difficulties. Corporate cash flow and assets, the better the overall liquidity, its ability to pay cash dividends on strong. And growing, profitable enterprises better, as most of the money invested in fixed assets and working capital on a permanent, they are usually not willing to pay cash dividends and jeopardize the enterprise security.
8, the life cycle of enterprises.
Usually the business life cycle is divided into the growth stage, development stage and mature stage. At various stages, corporate dividend policy will be subject to different effects. In the growth stage, enterprises need capital investment, in general, relatively low rate of dividend payment; in the development stage, the company began to pay a larger percentage of the dividend proceeds to the shareholders; to a mature stage, e to the relative input-output stable, dividend payout rates and stock returns will be almost unchanged.
9, business investment opportunities.
Dividend policy to a large extent influenced by the investment opportunities. If the company more profitable investment opportunities, often using low-dividend, high profit retention policies; the contrary, if the investment is less likely to adopt high-dividend policy. Of course, in the use of low-dividend policy, the company's management must be fully disclosed to shareholders in order to retain profits to invest in high-profit projects, in order to obtain the trust and support of shareholders.